Daily Market Wrap: May 10, 2012 Thursday, May 10, 4:57 PM ET
Stocks climbed back into positive territory after news of a better than expected jobs report that gave investors a sense of optimism.
The Labor Department is reporting a drop in weekly claims for unemployment last week, falling 1000 to a seasonally adjusted 367,000.
369,000 was the number economists were expecting.
Also on the economic front, the US trade deficit widened to $51.8 billion in March, which was more than expected, and also marked the fastest rate in 10 months.
Cisco Systems (NASDAQ:
CSCO) beat earnings expectations, but posted disappointing guidance, sending shares lower today.
Shares of Kohl's (NYSE:
KSS) are also trading lower today, after the retailer posted a steep drop in earnings, due to price cuts.
In M&A news, Coty upped its bid to acquire Avon Products (NYSE:
AVP) to about $10.7 billion. Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Nvidia (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Thursday Sector Laggards: Advertising, Home Furnishings & Improvement Stocks
Related symbols: YUME, TRMR, WSM, BSET
Thursday Sector Leaders: Metals & Mining, Oil & Gas Exploration & Production Stocks
Related symbols: BTU, ACI, NADL, LNCO
Wednesday Sector Laggards: Precious Metals, Airlines
Related symbols: SA, SAND, RJET, ZNH
Thursday's ETF with Unusual Volume: FDL
Related symbols: FDL, GE, T, NE, SJI
Thursday's ETF Movers: XOP, XLU
Related symbols: WLL, EXXI, AEE, TE, XLU, XOP
XLF, SRTY: Big ETF Outflows
Related symbols: XLF, SRTY, WFC, BRK.B
Daily Dividend Report: DE, DG, IRM, WR, DRH, TOWN, CTS
Related symbols: DE, DG, IRM, WR, DRH, TOWN, CTS
Daily Dividend Report: BBY, CTL, GSM, RAVN, FFIC, RY, SLH, SFL
Related symbols: BBY, CTL, GSM, RAVN, FFIC, RY, SLH, SFL
Daily Dividend Report: CRS, SIAL, UBSI, DSW, BDC, PLCE, CASH
Related symbols: CRS, SIAL, UBSI, DSW, BDC, PLCE, CASH
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Daily Market Wrap: May 10, 2012
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